Mobox (MBOX), Enjin Coin (ENJ), and HachiFi (HACHI)
The bear market is currently hitting global markets and crypto is not spared from this financial downturn. Crypto winter as it is called in crypto is in full gear and investors are feeling the pinch. As much as 80% has been wiped off the value of some projects while others experienced a 50% to 60% decline in value. Many experienced investors are taking advantage of this bear market to buy the dip and purchase solid crypto projects which are currently trading at a discount. Investing during these turbulent markets can be very troublesome as users may find it difficult to pick the right projects to purchase. Conducting adequate research into crypto projects on your list would give you a better view into their fundamentals and utility.
Three crypto projects you should be watching in this crypto winter are: Mobox (MBOX), Enjin Coin (ENJ), and HachiFi (HACHI). These projects have solid fundamentals asn are sure to survive the current market conditions. These projects show the early signs of outperforming the bear market. Want to learn more about these projects, here is a brief breakdown of each.
Mobox (MBOX) is a metaverse gaming protocol using play-to-earn (p2e), NFTs, and DEFI yield farming to create a decentralized metaverse. Its MOMOverse has cross platform capabilities which would allow users to enjoy the metaverse experience. The Mobox metaverse would be cross platform and work seamlessly on any platform without lag. In addition, users can create, build, sell, trade, and interact with others in their inclusive and decentralized metaverse. The MOMOverse will become a suitable ecosystem of players, creators, builders, and users together in one harmonious community.
The MBOX is the native Mobox token and it has various utility purposes on the platform. These utilities include: serving as a governance token thereby allowing users to vote on decisions, serving as the default transactional token, and as a key to unlock NFT mystery boxes. MBOX can also be staked to earn protocol rewards. Mobox uniquely combines gameFi, NFTs, and DEFI to create a truly wholesome metaverse experience for crypto users.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is the native token of Enjin protocol. Enjin is an ecosystem of gaming products interconnected on the blockchain. The Enjin Network serves as a central hub for builders to leverage for various purposes including building communities, creating virtual stores, building websites, and clans. With these compact product suites, ENJ derives great value from being the native token at the center of the Enjin ecosystem. ENJ backs assets created on the Enjin Network as it is used for payment when buying and selling digital assets. Furthermore, ENJ is used as the default base when creating assets within the Enjin ecosystem.
Enjin enjoys frequent activity from builders which gives its ENJ token Increased value. In addition, It allows its users to interact freely with every part of the protocol and also perform transactions on projects built using the Enjin platform. ENJ also helps with providing instant liquidity for users.
HachiFi (HACHI) is a layer 3 decentralized DEFI solution. The project wants to restructure the way crypto users approach investing, earning passive and other investment practices. HachiFi would also offer a suite of products which would include DEFI, NFTs, and metaverse solutions for users. In addition, it would partner up with reputable crypto companies to offer its users better experiences and utility. HachiFi allows its users to stake, make payments, purchase NFTs, and swap tokens.
The HACHI token is built on the BSC (Binance Smart Chain) and it uses the BEP-20 token standard. Furthermore, it can be swapped for other BEP-20 tokens on centralized or decentralized exchanges. On the tokenomics side, the HACHI token would be capped at a supply of 1 billion while it would employ deflationary measures to maintain token price. The project would change the way crypto users approach DEFI.